String Metaverse Expands Horizons with Canadian Fintech License
String Metaverse Limited has obtained its Fintech License from FINTRAC Canada, allowing it to expand its digital banking services. The rebranded String Payx will offer Web3-enabled services such as virtual debit cards and cross-border transfers, leveraging its gaming user base for wider adoption across global payment platforms.
- Country:
- India
Hyderabad-based String Metaverse Limited, trading as META on the BSE, has successfully acquired a Fintech License from FINTRAC Canada, positioned in Vancouver.
With this significant stride, the company, soon to be known as String Payx, will introduce an array of Web3-driven digital banking services. These include issuing virtual debit cards and facilitating cross-border wire transfers. Uniquely positioned at the crossroads of gaming, digital assets, and fintech, String Metaverse will take advantage of its 4 million strong gaming user base, anticipated to grow to 10 million. The company plans to issue Virtual Visa and Mastercard Debit Cards that integrate with Apple Pay and Google Pay, enabling transactions at over 170 million merchants globally.
Commenting on the achievement, CEO Santosh Althuru highlighted the transformative potential of the license, stating it allows String to spearhead new financial services for Web3 users, seamlessly blending crypto, gaming, and global payments. As the first Web3.0 company listed in India, String Metaverse is committed to constructing a public infrastructure layer for open, scalable financial ecosystems on blockchain.
(With inputs from agencies.)
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